Figures
Phoenix Industrial Figures Q1 2026
April 9, 2026 5 Minute Read
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‒Net absorption totaled 4.9 million sq. ft. in Q1 2026, up 200% from Q1 2025.
‒Fifteen buildings were delivered totaling 1.4 million sq. ft., the lowest number of sq. ft. delivered since Q1 2019.
‒Asking rates improved 1.9% to $1.06 NNN per sq. ft.
‒Vacancy rates resumed its decline from 2025 with 80-bps absorbed in Q1 2026 bringing the rate to 10.2%.